One stunning industry data point from Swiss Re paints a disturbing picture of the challenge and scale of global underinsurance: the re-insurance giant estimates that in the first six months of 2020, only 40 percent of the $75 billion in… Read More>>
China Oceanwide Acquires Genworth Financial in $2.7B Deal, Continues US Push
China Oceanwide Holdings continued its US acquisition spree by buying mortgage and life insurance firm Genworth Financial for $2.7 billion. The deal, which is subject to regulatory approval, will see the Beijing-based developer put up an additional $1.12 billion towards… Read More>>
Evergrande Paying $617M to Acquire Chongqing Insurance JV
China’s most indebted developer, Evergrande Real Estate Group, has branched out into insurance by acquiring a 50 percent stake in a loss-making Chongqing-based life insurer for RMB 3.9 billion ($617 million).
Evergrande, a top-five homebuilder on the mainland, disclosed to… Read More>>
China’s Anbang Insurance Bidding $1 Bil to Buy Japanese Real Estate Firm
China’s Anbang Insurance, which burst onto the world stage last year with its $1.95 billion acquisition of New York’s Waldorf Astoria, has set its sights on a new billion dollar deal – this time in Japan.
The Beijing-based insurer is… Read More>>